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Rediff.com  » Business » Gurnani new CEO of Mahindra Satyam; S Durgashankar CFO

Gurnani new CEO of Mahindra Satyam; S Durgashankar CFO

June 23, 2009 16:01 IST

Tech Mahindra appointed on Tuesday C P Gurnani CEO of Mahindra Satyam and S Durgashankar the new chief financial officer with immediate effect.

Gurnani succeeds A S Murthy who was appointed by the government board after the multi-crore rupee scam broke out in then Satyam Computer Services. Gurnani has been heading the global operations of Tech Mahindra.

The new CFO Durgashankar was earlier senior vice-president (M&A) for Mahindra Group. The post of CFO in Mahindra has been lying vacant since former Satyam CFO Vadlamani Srinivas was arrested for his alleged role in the financial fraud in Satyam.

Announcing the new appointments here, Mahindra Satyam executive vice-chairman Vineet Nayyar said Satyam has been a leader in the telecom technology space but there is still a huge growth potential. Gurnani will be responsible for exploring the telecom technology space, Nayyar added.

Meanwhile, Tech Mahindra strategic initiatives head Sanjay Kalra has been promoted as the new CEO of the company.

Tech Mahindra had acquired 31 per cent in Satyam through an open auction for over Rs 1,700 crore (Rs 17 billion). It has also come up with an open offer for additional 20 per cent. Last Sunday, Tech Mahindra rebranded Satyam as Mahindra Satyam.

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